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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Terminate and refinance leases in an asset based banking environment 
SAQA US ID UNIT STANDARD TITLE
12755  Terminate and refinance leases in an asset based banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  7 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this Unit Standard are able to terminate and refinance leases and rentals within an asset based financing environment. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
The learner must be able to locate and apply company policies and procedures as they relate to asset based financing applications. They should have been found competent against Unit Standard ABF009, Adhere to the legal and statutory requirements pertaining to the Asset Based Financing environment and against Unit Standard ABF010, Perform basic mathematical calculations in a banking environment. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Identify leases or rentals to terminate. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.Leases for termination are identified within the company specified notice period. 

ASSESSMENT CRITERION 2 
2.Information relating to the leases to be terminated is complete and correct. 
ASSESSMENT CRITERION RANGE 
Client number, client name and postal address, agreement number, description of the goods, renewal rental, the VAT amount, the total amount due, the termination date of the primary agreement and the commencement date of the secondary agreement.
 

ASSESSMENT CRITERION 3 
3.Copies of the report of leases for termination or notification that there is none, are delivered with the required frequency to Customer Accounts. 

ASSESSMENT CRITERION 4 
4.The original report is stored in accordance with company policy. 

SPECIFIC OUTCOME 2 
Establish client contact for the purpose of discussing further options. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.The client is notified of the impending end of the lease or rental with the standard company communication procedure. 

ASSESSMENT CRITERION 2 
2.The client is followed up according to standard company procedure. 

ASSESSMENT CRITERION 3 
3.The termination is finalised according to company procedures depending on client response to the communications. 

ASSESSMENT CRITERION 4 
4.VAT is fully recovered according to the VAT assessment if applicable. 

ASSESSMENT CRITERION 5 
5.Potential further sales opportunities are identified and followed up on. 

SPECIFIC OUTCOME 3 
Refinance the lease or rental. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.The value of the asset is established based on company policy and guidelines. 

ASSESSMENT CRITERION 2 
2.A new credit evaluation is completed as per company requirements. 

ASSESSMENT CRITERION 3 
3.The renewal options and terms are agreed with the client. 

ASSESSMENT CRITERION 4 
4.The secondary financing contract is checked for correctness and completeness based on company required documentation (including signature). 

ASSESSMENT CRITERION 5 
5.Arrangements for VAT recovery are made in terms of the Value Added Tax Act, if applicable. 

ASSESSMENT CRITERION 6 
6.Any payments and arrears due are collected according to company procedure. 

ASSESSMENT CRITERION 7 
7.All authorizations are obtained in terms of company policy. 

SPECIFIC OUTCOME 4 
Finalize the refinancing arrangement. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1.Documents are checked for accuracy, completeness and correctness. 

ASSESSMENT CRITERION 2 
2.The information is processed correctly and accurately on the system. 

ASSESSMENT CRITERION 3 
3.The documents are stored according to company policy. 

ASSESSMENT CRITERION 4 
4.The system is maintained as current at all times. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this Unit Standards shall be from the relevant education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.

The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The learner must have a working knowledge of relevant policies, procedures and statutory requirements.
  • The learner must have a working knowledge of the company products and their applicability in different circumstances.
  • The learner should be able to perform the calculations relevant to the proposal, such as interest rates and premiums.
  • Good communication skills.
  • Customer relations skills. 
    		•


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO ORGANISING 
  • The learner is able to organize and manage oneself and one's activities responsibly and effectively in order to ensure that all terminations are timeously identified and the process of termination and refinancing is initiated as per company policy. 
    		•

    UNIT STANDARD CCFO COLLECTING 
  • The learner is able to collect, analyse, organise and evaluate information when determining refinancing options. 
    		•

    UNIT STANDARD CCFO COMMUNICATING 
  • The learner is able to communicate effectively using visual, mathematical and / or language skills in the modes of oral and / or written persuasion when communicating with the client. 
    		•

    UNIT STANDARD CCFO SCIENCE 
  • The learner is able to use science and technology effectively, when calculating VAT, payments, arrears and financing options. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
  • The learner is able to demonstrate an understanding of the world as a set of interrelated systems by recognizing that problem-solving contexts do not exist in isolation when discussing alternative possibilities with the client. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
  • LEGAL REQUIREMENTS
  • The legal and statutory knowledge required is described in the Unit Standard ABF009. Specifically the relevant information from the following acts must be applied:
  • The Usury Act.
  • The Value Added Tax Act.
  • The Credit Agreements Act.
  • The Income Tax Act.
  • All procedures should meet recognised codes of practice as well as the obligations required under current legislation within South Africa. 
    		•

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Assured Vocational Skills Institute (Pty) Ltd 
    2. Brainwave Project 707 Pty Ltd 
    3. Brainwave Projects 707 
    4. Compuscan Academy 
    5. dc academy 
    6. Fachs Business Consulting and Training 
    7. Legal Practice Academy 
    8. Matibidi Raphela Investments (Pty) LTD 
    9. Octopus Training Solutions 
    10. Production Management Institute of Southern Africa 
    11. Signa Academy 
    12. SIGNA ACADEMY (PTY) LTD 
    13. Sinovuyolethu Trading (Pty) Ltd 
    14. THE SHERQ CENTRE OF EXCELLENCE PTY LTD 
    15. Welltec Academy (Pty) LTD 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.